Apple announced the new, fifth-generation 16 GB iPod Touch that costs $229 — making it a bit less expensive than the fifth-generation 32 GB iPod Touch at $299 and 64 GB iPod Touch at $399, both of which were released last fall. Meanwhile, Apple has stopped selling the fourth-generation 16 GB iPod Touch with a 3.5-inch screen, which costed $199.

The 16 GB device has a black front and silver back. The 32 GB and 64 GB versions are also available in pink, yellow, light blue, and red. The iPod Touch has been popular over the years. Apple has sold 100 million of the touch-screen iPods since their introduction in 2007, according to blogger Jim Dalrymple at The Loop. If you want to get your hands on the 16 GB model, Apple is selling the new variant in its online store starting 31st May 2013. Although rumors persist that Apple is looking at the development of a cheaper iPhone model to rake in a wider customer base. In an analyst note, Citi Research says the tech giant is heading naturally toward less-expensive models, and this “shift” is considered not only a move toward long-term, rather than short-term, profitability for Apple, but for the tech industry as a whole.

Recent image leaks of an allegedly lower-cost, iPhone have surfaced, suggesting that a cheaper, plastic-cased iPhone may also be on its way. Apple has not confirmed that a less expensive iPhone model is in the works, but considering the quiet introduction of a cheaper iPod Touch and the $329 iPad Mini, it may not be an unrealistic expectation.

If you purchase the 16 GB version of the iPod Touch, however, you will lose the rear-facing camera. The loss of the camera contributes to the slim design of mobile gadget, which weighs about 3 ounces (86 Grams) and is 4.86 inches tall and 2.31 inches wide. The front-facing camera remains, though it doesn’t have 1080p video recording capabilities. Someone who owns the iPod Touch 4th Generation is very unlikely to ever get used to the absence of a camera.

All in all, if you buy the new iPod Touch, you also lose the ‘Loop’ that comes with the 32 and 64GB models of the iPod Touch 5th Generation. If you are looking for an upgrade to your old iPod Touch and want it to be in budget, then you might want to consider this.

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